The company intends to use the funds to continue to expand its operations and development efforts.

Founded in 2017 by Kamal Obbad, CEO, Nebula Genomics is creating a secure and decentralized marketplace using blockchain and other technologies to put consumers in control of their genomic data, as well as by compensating individuals directly for the use of their data.

The company also has signed a partnership with Veritas Genetics, a whole genome sequencing, and interpretation company, that will connect the Nebula marketplace to its Arvados open-source software platform. The partnership enables the Nebula marketplace to build upon the existing advantages of the open-source software platform Arvados. Developed by Veritas, Arvados is an open-source platform for storing, sharing and analyzing genomic data – currently exceeding 20 petabytes of data. It is used globally by researchers, pharmaceutical companies and research institutions.

One of the features of the federated Arvados platform is that it allows consented data to be queried regardless of the data’s location. Therefore, various data sets can be physically stored and managed according to local rules and regulations, especially those concerning privacy and protection.